SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                Current Report Pursuant to Section 13 or 15(d) of
                           The Securities Act of 1934


       Date of Report (Date of earliest event reported): February 4, 2004


      GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-7
      GEODYNE INSTITUTIONAL/PENSION ENERGY INCOME LIMITED PARTNERSHIP P-8
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             (Exact name of Registrant as specified in its Articles)

                    P-7:  0-20265      P-7:      73-1367186
   Oklahoma         P-8:  0-20264      P-8:      73-1378683
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(State or other     (Commission         (I.R.S. Employer
jurisdiction of       File No.)          Identification)
incorporation or
organization)



                  Two West Second Street, Tulsa, Oklahoma 74103
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               (Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (918) 583-1791








ITEM 5:   OTHER EVENTS

      Year End  Values.  The General  Partner is  required  to provide  year-end
values of the Geodyne  Institutional/Pension  Energy Income Limited  Partnership
P-7 and Geodyne  Institutional/Pension  Energy Income  Limited  Partnership  P-8
(collectively, the "Partnerships") underlying properties to its limited partners
pursuant to the Partnerships' partnership agreements.  Attached is a form of the
letter to be sent to the limited  partners on or about  February 4, 2004,  and a
chart showing,  on a per-unit basis, the 2003 Year-End Estimated  Valuations for
the Partnerships.

ITEM 7:     EXHIBITS

20.1     Form of letter to be sent to the limited partners of the Partnerships
         on or about February 4, 2004.

99.1     Chart  showing  on  a  per-unit  basis  the  2003  Year-End   Estimated
         Valuations for the Partnerships.

                                   SIGNATURES

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                    GEODYNE INSTITUTIONAL/PENSION ENERGY
                                    INCOME LIMITED PARTNERSHIP P-7
                                    GEODYNE INSTITUTIONAL/PENSION ENERGY
                                    INCOME LIMITED PARTNERSHIP P-8

                                     By:  GEODYNE RESOURCES, INC.
                                     General Partner

                                        //s// Dennis R. Neill
                                    -----------------------------
                                     Dennis R. Neill
                                     President

DATE: February 4, 2004